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Question: Follicle Co. is experiencing a decrease in sales and operating income for the fiscal year ending December 31, 2006. Preston Shipley, controller of Follicle Co., has suggested that all orders received before the end of the fiscal year be shipped by midnight, December 31, 2006, even if the shipping department must work overtime. Since Follicle Co. ships all merchandise FOB shipping point, it would record all such shipments as sales for the year ending December 31, 2006, thereby offsetting some of the decreases in sales and operating income. Discuss whether Preston Shipley is behaving in a professional manner.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92336424

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